Lemonade has retraced from a recent high of 188 to 138.80 today. It is now close to a strong support @ 137 (confluence of a horizontal resistence turned support as well as the 61.8% fib retracement level).
There is also a potential bullish divergence between price and RSI.
Dipping my toes in @ 138-140 with initial stop loss just below 134. For those who prefer to wait for more confirmation, wait for firmer reversal signs, eg harami or piercing candlesticks etc on the daily chart (ideally should happen without breaching the support @ 137), or wait to see a rebound above 145 before entry.
Target wise, I am looking at a retest of the recent high at 1.88 or trail stops up with room for some volatility.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
There is also a potential bullish divergence between price and RSI.
Dipping my toes in @ 138-140 with initial stop loss just below 134. For those who prefer to wait for more confirmation, wait for firmer reversal signs, eg harami or piercing candlesticks etc on the daily chart (ideally should happen without breaching the support @ 137), or wait to see a rebound above 145 before entry.
Target wise, I am looking at a retest of the recent high at 1.88 or trail stops up with room for some volatility.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)